New, cheap and clean. Its only downside is that it's a bit of a walk to the beach, but it's not too bad. The staff is very friendly and accomodating.
The place is new, and it shows! It's a sleek hostel located close to the night market and the buzzing pub street. Hostel design is sleek, with large, clean bathrooms, air-con dorms with personal power sockets, reading lights and large locker space. The staff is quite helpful, though their English is somewhat limited. This will not be much of an issue however.
Landing Pads is lovely. Matt, the owner is a very friendly guy who makes you feel right at home. I couldn't have picked a better place to stay in Melbourne and I would heartily recommend it to anyone who wished to stay for a longer while in Melbourne. It's located in the heart of Brunswick, which has lots of shops and bars. If you want to get to the CBD though it's easiest to catch a tram, which stops very close to the hostel. Walking to the CBD takes approx. 1 hour.
The Paradiso hostel definitely lives up to its name as it really feels like being in a paradise. There's tons of free stuff which all is as good as it's advertised. The spacious outdoor area offers plenty of entertainment and relaxation (hammocks, swimming pool, hot tub and even a sauna, amongst other things). If you can, definitely book a cabin room as they offer a more pleasant stay than the dorms. The kitchen area does tend to get busy and noisy during the evenings.